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Hungary Fuel Shortages to Hit in September Due to Lukoil Oil Halt

OIL PRODUCTS

Hungary will need to resolve the oil supply issues with Russia’s Lukoil by September to avoid domestic fuel shortages according to government officials on Friday.

  • “There is no reason to panic so far because reserves are high, the problem isn’t immediate, but we must find a solution by September,” government minister Gergely Gulyas said.
  • Ukraine is enforcing sanctions against Lukoil that have stopped oil flows on the southern leg of the Druzhba pipeline to Slovakia and Hungary.
  • Officials from Mols Hungary refinery said they would not immediately be able to switch away from Russian oil because of the refinery set up.

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